Insider Selling: FOX (NASDAQ:FOX) Chairman Sells 168,756 Shares of Stock

Fox Corporation (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 168,756 shares of FOX stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The transaction was disclosed in a document filed with the SEC, which is available at this link.

FOX Stock Up 0.2%

FOX traded up $0.14 during midday trading on Friday, reaching $59.48. 2,228,606 shares of the company were exchanged, compared to its average volume of 1,406,255. The company has a market cap of $26.50 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.57. Fox Corporation has a one year low of $41.14 and a one year high of $59.99. The company’s fifty day moving average price is $54.53 and its 200 day moving average price is $51.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.45. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. As a group, analysts expect that Fox Corporation will post 4.25 EPS for the current year.

Institutional Investors Weigh In On FOX

Several large investors have recently modified their holdings of FOX. Nuveen LLC purchased a new position in FOX in the first quarter valued at approximately $54,630,000. National Bank of Canada FI increased its position in FOX by 37.7% in the first quarter. National Bank of Canada FI now owns 1,817,328 shares of the company’s stock worth $95,791,000 after buying an additional 497,544 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of FOX by 281.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 470,365 shares of the company’s stock valued at $24,793,000 after buying an additional 347,100 shares during the period. Vanguard Group Inc. raised its stake in shares of FOX by 1.7% in the first quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company’s stock valued at $768,799,000 after buying an additional 249,246 shares during the period. Finally, Virtu Financial LLC lifted its position in shares of FOX by 364.4% during the 1st quarter. Virtu Financial LLC now owns 296,316 shares of the company’s stock valued at $15,619,000 after buying an additional 232,508 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FOX shares. UBS Group reaffirmed a “buy” rating on shares of FOX in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a research report on Friday, October 31st. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Cfra reiterated a “buy” rating and issued a $73.00 price objective on shares of FOX in a research note on Monday. Finally, Fox Advisors set a $97.00 target price on shares of FOX in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $81.67.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.